The price of the Floki Inu skyrocketed after a mention of Elon Musk on Twitter. One would have thought that the power of increase of the Tesla founder had faded and that his recent remarks regarding Dogecoin or Bitcoin no longer had any effect on the cryptocurrency market. But apparently the opposite is true.
By simply mentioning his dog Floki, named after a character from the TV series Vikings, Musk managed to motivate investors to buy a coin of the same name, Floki Inu (FLOKI), and the price of the token jumped. 20% in about an hour.
Picture of Floki tomorrow
— Elon Musk (@elonmusk) August 1, 2022
Floki Inu is a clone of the already known memecoins Dogecoin and Shiba Inu, but with a fondness for the theme of Vikings. These tokens, originally invented for fun, are now used as a means of payment, and some of them are even working on their own DeFi infrastructure.
What is the Floki Inu (FLOKI) project?
Floki Inu is a little-known project that devotes a lot of effort to promoting itself. For example, boxer Tyson Fury appeared in a T-shirt with the image of a dog wearing a Viking helmet, the symbol of the project. The project itself is engaged in advertising, simplified banners around the world from the United States to London to Turkey, and dealing with major cryptocurrency exchanges to get listed.
Among other things, the Floki Inu team yesterday unveiled the first in-house DeFi protocol project under the FlokiFi wing, Project L. While FlokiFi is the complete project ecosystem, Project L. is a containment solution. cryptocurrency that allows it to lock and invest assets in ERC20, BEP20 and ERC-1155 networks.